• KDI Journal of Economic Policy
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• v.14 no.4
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• pp.3-26
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• 1992

The pupose of this paper is to construct a price determination model of the Korean economy and to find out the propogation mechanism of monetary and fiscal policies. The model is a small-size macroeconometric model consisted of ten core equations : consumption, investment, exports, imports, consumer price index, wage rate, corporate bond rate, potential GNP, capital stock, and GNP identity. The model is a Keynesian model : consumer price index is determined by markup over costs, and wage rate is expressed by Phillipse curve ralation. Two features of the model, however, distinguish this model from other macroeconometric models of the Korean economy. First of all, the estimation of potential GNP and the capital stock is endogenized as suggested by Haque, Lahiri, and Montiel (1990). This allows us to calculate the level of excess demand, which is defined as the difference between the actual GNP and the potential GNP. Second, interest rate, inflation and wages are all estimated as endogenous variables. Moreover, all quantity variables include price variables as important determinants. For instance, interest rate is an important determinant of consumption and investment. Exports and imports are determined by the real effective exchange rate. These two features make the interactions between excess demand and prices the driving forces of this model. In the model, any shock which affects quantity variable(s) affects excess demand, which in turn affects prices. This strong interaction between prices and quantities makes the model look like a classical model over the long run. That is, increases in money supply, government expenditures, and exchange rate (the price of the U.S. dollar in terms of Korean won) all have expansionery effects on the real GNP in the short run, but prices, wage, and interest rate all increase as a result. Over the long run, higher prices have dampenning effects on output. Therefore the level of real GNP turns out to be not much different from the baseline level ; on the other hand, the rates of inflation, wage and interest rate remain at higher levels.

• Korean Journal of Construction Engineering and Management
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• v.9 no.5
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• pp.75-85
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• 2008

The construction industry has been leading the growth of the nation's economy not only by providing with various infrastructure projects but also by positively impaction related industries such as crating numerous job opportunities. Relevant statistics show the production amount of construction taking about 17.5% of the GDP (Gross Domestic Product). In spite of its positive impacts on the economy, image of Korea construction industry is generally reflected as negative mainly because of its environmental disruption, low payment, bribe, fraudulent work and inefficiency. It brings students to be reluctant choosing the construction industry as their carrier path and governmental and principal research status. Therefore it has been difficult to recruit highly qualitied human resources to the industry while the morale of the whole industry has gradually become demoralized. To improve this stand, many domestic researchers carried out research projects for improving the image of Korea Construction Industry. This study also sympathizes with necessity of improving the negative image of construction industry to remain as one of the leading industry in the 21st century. Especially, this study focused on finding important factors which have significant influences on the image of the industry. Through out the research, image influence factors was identified by rigorous literature review and interviews as industrial and academic experts. Factors, then, categorized and used as the main framework for the survey which designed to fine the degree of impacts on the image of the construction industry. In analyzing the survey results, various statistical techniques was employed including factor analysis, Chi-Square-Test, Correlation Analysis and Multiple Linear Regression. Identified as the most influent factors to the image of the construction industry include morale of construction employee, and prospects the industry which of the judgement by payment, impacts on nation's economy, future of the industry, etc.

• Journal of the Economic Geographical Society of Korea
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• v.1 no.1
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• pp.81-112
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• 1998

This study reviews the industrialization process of the United States-Mexico Borderlands and the economic relations between the U.S. and Mexico and examines their impact on the borderlands. Main factor in the industrialization of the borderlands was the U.S. investment on the maquiladora program of Mexico since 1965. It contributed to the increase in employment and population of borderlands and the development of service industries. Low wage level of Mexico induced not only standardized labor-intensive industries but also the high-tech automated industries because they still use a lot of labor in manufacturing and assembly process, while the functions of management. R & D, and distribution remained in the U.S. This is a typical case of international division of labor and satellite industrial district. The rules of origin in NAFTA, however forced branch Plants of multinational companies to form the local linkages between firms.

• The Korean Journal of Applied Statistics
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• v.29 no.1
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• pp.13-25
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• 2016

High-speed railway (Korea Train Express) has had a deep impact on the regional economy of Korea. Current high-speed rail research is mostly theoretical, there is a lack of quantitative research using a precise algorithm to study the effect of high-speed railway on the regional economy. This paper analyses the influence of high-speed rail on the regional economy, with a focus on the Daegu area. Quantitative analysis using department store indexes and regional medical records is performed to calculate the economic influence of high-speed rail. The result shows that high-speed railway effects the regional economy though regional consumption growth and medical care trends.

• Journal of Korea Port Economic Association
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• v.24 no.2
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• pp.241-263
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• 2008

Since the outsourcing logistics business has been an emerging opportunities for many new service providers entering into such an ever-changing technology, knowledge and logistics market, it has resulted into a price-sensitive and high competition industry. In order to sharpen the global competitive power of the information-contents business in this severe environment, this research is engaged in meeting the following purposes: 1. well position the outsourcing logistics services in the logistics business industry 2. articulate the business model to compete in the outsourcing logistics services market, Information-contents industry. 3. propose a competitive strategy for a outsourcing logistics services provider to grow the information-contents business. This research report could also serve as a framework for the other logistics and the outsourcing services companies to plan out their competitive strategies of information-contents industry. For new comers to join the same market, it will be also helpful in positioning their services and making business decisions in a holistic view.

• KDI Journal of Economic Policy
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• v.13 no.1
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• pp.115-134
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• 1991

The role of pension plans in the macroeconomy has been a subject of much interest for some years. It has come to be recognized that pension plans may alter basic macroeconomic behavior patterns. The net effects on both savings and labor supply are thus matters for speculation. The aim of the present paper is to provide quantitative results which may be helpful in attaching orders of magnitude to some of the possible effects. We are not concerned with the providing empirical evidence relating to actual behavior, but rather with deriving the macroeconomic implications for a alternative possibilities. The pension plan interacts with the economy and the population in a number of ways. Demographic variables may thus affect both the economic burden of a national pension plan and the ability of the economy to sustain the burden. The tax transfer process associated with the pension plan may have implications for national patterns of saving and consumption. The existence of a pension plan may have implications also for the size of the labor force, inasmuch as labor force participation rates may be affected. Changes in technology and the associated changes in average productivity levels bear directly on the size of the national income, and hence on the pension contribution base. The vehicle for the analysis is a hypothetical but broadly realistic simulation model of an economic- demographic system into which is inserted a national pension plan. All income, expenditure, and related aggregates are in real terms. The economy is basically neoclassical; full employment is assumed, output is generated by a Cobb-Douglas production process, and factors receive their marginal products. The model was designed for use in computer simulation experiments. The simulation results suggest a number of general conclusions. These may be summarized as follows; - The introduction of a national pension plan (funded system) tends to increase the rate of economic growth until cost exceeds revenue. - A scheme with full wage indexing is more expensive than one in which pensions are merely price indexed. - The rate of technical progress is not a critical element in determining the economic burden of the pension scheme. - Raising the rate of benefits affects its economic burden, and raising the age of eligibility may decrease the burden substantially. - The level of fertility is an element in determining the long-run burden. A sustained low fertility rate increases the proportion of the aged in total population and increases the burden of the pension plan. High fertility has inverse effects.

• (The)Study of the Eastern Classic
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• no.69
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• pp.297-324
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• 2017

Recognizing that the ideological nature of Taoist Gwonseonseo whose publication was concentrated during the reign of King Gojong was connected to that of Jeoseungjeon, a Hangul manuscript novel in the 19th century, this study set out to examine the periodic significance of Taoist Gwonseonseo in the 19th century and check the ideological nature of Jeoseungjeon. Taoist Gwonseonseo puts an emphasis on Confucian ethics including loyalty and filial piety in a didactic aspect and shows that the practice of Confucian ethics brings good fortune, which was prominent in many private Taoist books that were huge hits in the latter part of Joseon, when Chinese Taoist Gwonseonseo was introduced in Joseon, translated and circulated in Korean, and spread widely among the public. Those works offer very specific cases of individuals doing good or evil deeds in this world and suffering the consequences in the next world. Jeoseungjeon presents the Buddhist experiences with the next world as the foundation with the next world depicted around the Great Jade Emperor, who emphasizes Confucian ethics, and the hierarchy of Taoist gods under the ultimate the Great Jade Emperor, thus clearly demonstrating the combination pattern of Confucianism, Buddhism, and Taoism in the latter half of Joseon. The work describes the scenes of judgment and punishment in the next world according to the witness of the main character and thus gives specific ideas of daily goods, which is a feature found in the latter half of Joseon different from the previous pattern of next world experiences. It is Taoist Gwonseonseo widely spread among the people those days that connects the link.